Monthly Archives: March 2017

Draining API 650 Storage Tanks of Oil

As expected, the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC countries reached an agreement in 2016 to cut the production of crude oil to increase prices. This cut has ended the super contango in the oil market, and API 650 tanks are starting to be emptied to put the oil on the… Read more »